Stocks rose in early trading Wednesday, extending a rally that has put major indexes within sight of record highs.
The Dow Jones Industrial Average was up 0.2% about 20 minutes after the opening bell, while the S&P 500 and Nasdaq Composite advanced 0.6% and 1.2%, respectively. The major indexes are coming off of two consecutive days of solid gains as investors respond to strong earnings reports and steps taken by President Donald Trump in his first few days in office.
Coming into Wednesday’s session, the S&P 500 was less than 1% away from a new all-time high, while the Dow and Nasdaq Composite are about 2% away from their own record highs.
Netflix (NFLX) was the big mover in early trading Wednesday, with shares up 13%, after the streaming giant late Tuesday reported results that beat expectations and raised its revenue outlook as subscriber numbers jumped.
Shares of Oracle (ORCL) were up 6%, adding to yesterday’s 7% surge, after Trump announced late Tuesday that the software maker would team up with OpenAI and Japan’s SoftBank on a $500 billion project to build AI infrastructure.
Among the big-name companies gaining ground after reporting results this morning, insurer Travelers (TRV) was up nearly 4%, while consumer products giant Procter & Gamble (PG) and energy company GE Vernova (GEV) each tacked on 3%. Johnson & Johnson (JNJ) was down more than 3% despite beating Wall Street estimates on the top and bottom lines.
Mega-cap technology stocks were mostly higher, led by shares of Shares of AI investor favorite Nvidia (NVDA), which rose 4%. Apple (AAPL), Microsoft (MSFT), Amazon (AMZN), Alphabet (GOOGL), Meta Platforms (META) and Broadcom (AVGO) also rose , while Tesla (TSLA) lost ground.
Bitcoin was at $104,100 this morning, down from an overnight high near $107,000. The digital currency, which hit a record high above $109,000 on Monday ahead of Trump’s inauguration, has surged 50% since the election amid investor hopes the new administration will adopt measures that support the cryptocurrency market.
The yield on 10-year Treasurys, which is correlated with expectations about where interest rates are headed was holding steady at 4.57%, after hitting its lowest level in two weeks yesterday.
Gold futures were little changed at around $2,760 an ounce in recent trading, while crude oil futures fell slightly.
Netflix Levels to Watch as Stock Surges After Earnings Report
1 hr 7 min ago
Netflix (NFLX) shares soared after the streaming giant posted better-than-expected fourth-quarter results and lifted its 2025 revenue outlook.
Investors also cheered the streamer’s decision to raise its subscription prices in the U.S., Canada, Portugal, and Argentina. The company added 19 million net new subscribers in the fourth quarter, taking its membership tally to over 300 million.
Through Tuesday’s close, Netflix shares had gained 80% over the past 12 months, significantly outpacing the S&P 500’s 25% return during the same period. The stock was up 15% at $997 in recent premarket trading.
Prior to the company’s earnings report, the stock found buying interest around the 50-day moving average.
Bars pattern analysis forecasts a potential upside target of around $1,285 and indicates that a new trend may play out until late May. Investors should watch major support levels on Netflix’s chart around $930 and $824.
Read the full technical analysis piece here.
Futures Point to Higher Open for Major Indexes
1 hr 53 min ago
Futures tied to the Dow Jones Industrial Average were up 0.3% in recent trading.
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S&P 500 futures were up 0.5%.
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Nasdaq 100 futures added 0.9%.
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